I am cautiously accumulating back in (via cost averaging) again now with stop loss set and constantly updated now.
Slowly cost averaging back in (50%) with stoploss set at 115 USD, and continually observing the 3hrly chart as well. Will enter with the rest once there are further confirmation from Cyber Ensemble + PRISM Oscillators. Previous analysis.
BTC is still presently being treated as a risk asset. IMO, only when the need arises globally (i.e. significant or even hyper-inflation), could it then potentially decouple (i.e. think Venezuela), and be treated more as a safe-haven. This chart shows the Bitcoin (XBT) chart normalized by the S&P 500 index (SPX). A 50/200 SMA golden cross have only just emerged...
Continuing from:
Will the orange 200 weekly SMA hold? If the index dips below this historical support, it will mark the start of the next recession as it did in 2008. Daily Chart:
Bullish: Coming down to 8732 USD and bouncing off, establishing a higher local low? Bearish: Dropping back down to the 50% Fib level @ 8507 USD, and probably will then retest 8732 USD before failing and falling deeper down. Present course of action?: Wait & watch for next move. Price likely to drop lower first for both cases. Set stop-loss for bearish case...
Suggesting a possible start of a momentum swing to the upside at the higher-timeframe. Need to wait for candle close for confirmation. Will be more bullish if/when the buy signal is triggered on CYBER ENSEMBLE as well. PRISM Signals CYBER ENSEMBLE {PREMIUM} See also shorter timeframe analysis: Furthermore, price also...
Bullish in the shorter term. Need to break above 61.8% Fib-ext level @ 8981 USD and finds support over to be bullish in the mid term. PRISM Signals signaling "Buy". However will need to wait for Cyber Ensemble to signal a "Buy" first before making a move. PRISM Acceleration/Jerk ribbon looking bullish, pulling Momentum up further, and looking like it has more...
BTC have finally now tested strong support zone between 8.5-8.6k USD. ------ Also appear to have found support above the 61.8% Fib retrace. A bounce looks possible on the short term, but won't be too bullish. PRISM Momentum is rising again, while PRISM's primary oscillator indicates oversold condition. Price needs to recover back above blue zone again and be...
Looks like price will want to bounce up again in the shorter term, and even eventually go down to 215-228 USD @ the 61.8% Fib-ext level. Speculation: ETH possibly making its way up after hitting 61.8% level to overcome resistance -- to signal a pump much higher after completing a bull-flag formation. Acceleration is trending upwards into the positive now, which...
Clearer signs of a positive change in momentum. Price moved further down from ca. 9500 USD support, divergent from Cyber Ensemble buy signal. Will wait for it to be confirmed for 2-3 more candles and as previously mentioned: " Will wait for (the blue buy signal on) PRISM Signal to trigger as well perhaps, then relook at the chart and PRISM oscillators, before if...
ETH broke below prior ascending channel support: drop to between 215-228 USD? As usual, highly dependent on BTC chart. Ichicloud also flipped into bearish state. PRISM AJ-Ribbon looks like it is about to turnaround though. But need to wait for PRISM Signal "Buy signal" to trigger to confirm bullish momentum first, before recovery can be deemed more likely.
Cyber Ensemble sell signal triggered on the 3hrly. BTC also looking weak atm: However still need to wait for the breakup/down for confirmation and look at the macro timeframes. IMO shorter timeframes doesn't predict price movement towards the end of a consolidation that well. 1D chart bullish in the longer term, but looks like it wants to come down to revisit...
Buy signal triggered on my Cyber Ensemble script. Will wait for PRISM Signal to trigger as well perhaps, then relook at the chart and PRISM oscillators, before if a breakout higher is imminent or will price more likely break down lower infact. Followup analysis from:
..before breaking out higher from bull flag formation. See also:
Looks like BTC is likely to be moving sideways for awhile. If it does and price doesn't breakdown, then ETH will likely remain bullish. Buy signal triggered on my CYBER ENSEMBLE indicator on the 3hr chart too. Need to keep a close watch on BTC chart. See prev. ETH analysis: Latest BTC chart:
See text in chart. Continued analysis from: Daily chart analysis. LIVIDITIUM (LVDT) Dynamic Fib Channels/Levels: More zoomed-out view of the LVDT Channel for comparing with historical behavior.